The Must Read PSA Weekly Research Round-up (week to 10 Mar)

Reports / Flash Notes: Headlines at a Glance

1. Strategy: As the Nikkei Threatens to Break Out – What Stocks to Focus On?
2. Autos: US Border Adjustment Tax – A Disastrous Scenario for Japanese Automakers
3. Gaming: Nintendo (7974) and DeNA (2432) Assessed in the Light of Switch Launch

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics / Gaming / Industrial Electronics / Precision

The Must Read PSA Weekly Research Round-Up (week to March 10, 2017)

PSA Japan Weekly research round-up for week ending March 10th:
Reports/Flash Notes: Headlines at a Glance:
1. Strategy: As the Nikkei Threatens to Break Out – What Stocks to Focus On?
2. Autos: US Border Adjustment Tax – A Disastrous Scenario for Japanese Automakers
3. Gaming: Nintendo (7974) and DeNA (2432) Assessed in the Light of Switch Launch
Company/Sector/Thematic Comments at a Glance:

Technology: Consumer Electronics / Gaming / Industrial Electronics / Precision
1. Sony Corp (6758): Credit Rating Raised / Toyo Keizai Raises its Sony Estimates for FY16
2. China Bans New Korean Video Games: Read-Across to Nexon (3659), NCSoft (035670 KS) etc.
3. KLab (3656): Overegging Benefits of Cost-Cutting? While Gumi’s (3903) Q3 is Excellent
4. Square Enix (9684): Positive Reviews Do Matter
5. Toshiba (6502): Troubles Continue
6. Canon (7751): Cost Cutting at Last? If So, Justifying Valuations Remains a Tough Ask

Chemicals / Electronic Materials

7. OLED Auto Displays? Not so Fast…
8. Sumitomo Chemical (4005): Anticipates High Growth in OLED Touch Sensors
9. Lacklustre Feb Housing Orders at Sekisui Chemical (4204) and Asahi Kasei (3407)
10. Taiyo Nippon Sanso (4091) Stands to Benefit from Linde – Praxair Merger
11. Toyoda Gosei (7282): Hits a 15-month High

Auto Parts / Machinery

12. The Midea Group’s Web: Toshiba (6502), Yaskawa (6506) Increasingly Drawn In?
13. IHI (7013): Promising Turbocharger Business Expanding / MHI (7011) Follows Suit
14. Aisin Seiki (7259) vs Denso (6902): One is at an All-Time High, the Other is Not…Yet

Telecom

15. SoftBank (9984): Sprint (S US) / T-Mobile (TMUS US) Merger & Infrastructure Spending
16. SoftBank’s Sprint (S US): Facing New Price War, Courtesy of Verizon (VZ US)
17. SoftBank (9984): Sells 25% of ARM – the “Go To” Stock for the IoT Era – to the Vision Fund!

Internet

18. Snap Inc (SNAP US)-Induced Focus on Japan’s Content Providers
19. Avex (7860): Entering the Chinese market is a Positive
20. Potential Shipping Rate Hikes May Hurt E-Commerce Companies
21. LINE (3938): Expanding its Network of Local Banks

Pharma

22. Japan Drug Market to Shrink 30% by 2025! – PhRMA

Macro

23. Spring Shunto Results Look Similar to 2016’s

You can also find PSA research on FactSet, Thomson Reuters (Reuters Knowledge, Thomson One Analytics, Starmine), Capital IQ, and Bloomberg (under PSAZ or by typing in the < stock code> equity CN PSA ), or contact your sales representative.